Housing Payments Hit 1-Year High, Sending Buyers to the Sidelines
Redfin reported that the median U.S. monthly housing payment climbed to $2,647, a one-year high, driven by record home prices and mortgage rates near 6.5%. Pending home sales fell 0.6% week-over-week, marking the fifth consecutive decline as affordability challenges and economic uncertainty keep buyers on the sidelines.
Key figures
- Median sale price
- 403889
- Median sale price yoy
- 2.3%
- New listings wow change
- -0.4%
- Mortgage rate weekly avg
- 6.52%
- Pending sales wow change
- -0.6%
- Pending sales yoy change
- -3.5%
- Median monthly housing payment
- 2647
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.